India to Offer Private Miners a Chance to Revive Abandoned Mines

May 11, 2015

The Indian government and CIL’s efforts to get abandoned mines back into production dates back to 2008, when the latter had floated tenders inviting private miners and companies needing coal as raw materials to form 50:50 joint ventures. While companies like ArcelorMittal, Rio Tinto, Essar Steel and JSW Steel responded to the tenders, several of the respondents sought assured offtake of production in proportion to their equity stake for their own captive consumption, which proved to be a deal-breaker.

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